New York State Common Retirement Fund Trims Position in AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund cut its position in AppFolio, Inc. (NASDAQ:APPF) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,841 shares of the software maker’s stock after selling 6,081 shares during the period. New York State Common Retirement Fund owned about 0.50% of AppFolio worth $45,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of APPF. Exchange Traded Concepts LLC increased its stake in shares of AppFolio by 59.3% in the third quarter. Exchange Traded Concepts LLC now owns 602 shares of the software maker’s stock worth $142,000 after purchasing an additional 224 shares in the last quarter. Blue Trust Inc. grew its stake in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in AppFolio by 41.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,636 shares of the software maker’s stock valued at $5,799,000 after acquiring an additional 7,161 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in AppFolio during the third quarter valued at $1,003,000. Finally, International Assets Investment Management LLC purchased a new position in AppFolio during the third quarter valued at $26,040,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on APPF shares. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Trading Up 1.1 %

APPF stock opened at $214.89 on Thursday. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company has a 50-day moving average price of $244.26 and a 200 day moving average price of $233.57. The stock has a market cap of $7.82 billion, a PE ratio of 38.72 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares of the company’s stock, valued at $5,795,565.30. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the transaction, the director now owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 11,521 shares of company stock valued at $2,921,870. Company insiders own 5.24% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.